$PEPE/USDT Technical Analysis: Continuation of Uptrend or Correction Ahead?
The #PEPE/USDT pair has been on a strong bullish run, currently trading at 0.00000819 USDT, up 10.83% from the previous period. The recent price action has broken above the previous resistance levels, indicating sustained buying pressure. However, some indicators suggest potential overbought conditions, hinting at a possible pullback or consolidation in the near term. Let's explore the key price levels and potential scenarios.
Support Levels:
Immediate support: 0.00000809 (EMA)
Strong support: 0.00000786 (Recent swing low)
Critical support: 0.00000782 (Lower Bollinger Band)
Resistance Levels:
Immediate resistance: 0.00000860 (Recent swing high)
Strong resistance: 0.00000837 (Upper Bollinger Band)
Critical resistance: 0.00000864 (Psychological level)
The Relative Strength Index (RSI) is currently in the overbought territory, which could signal a potential pullback or consolidation. However, the Moving Averages (MA, EMA) have a bullish crossover, suggesting the uptrend may continue.
Possible Scenarios:
Continuation of the uptrend: If the bullish momentum sustains and the price breaks above the recent swing high of 0.00000860, $PEPE/USDT could continue its upward trajectory, potentially targeting the critical resistance level of 0.00000864 (psychological level).
